Hi

I own(100%) a S-Corp, my accountant had filed final tax return for 2012. And last week I decided to dissolve my company, so I sent the certification of termination for my LLC to the state. Since it is a S-Corp I also need to send form 966 to IRS. I understand most of the questions in the form except for following, can somebody please explain what following questions mean?

7c. Name of common parent

8. Total number of shares outstanding at time of adoption of plan liquidation - Common | Preferred.


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7c. Name of common parent===========>>>>>>>>>>>>>>A parent company is a company that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors; the second company being deemed as a subsidiary of the parent company. The definition of a parent company differs by jurisdiction, with the definition normally being defined by way of laws dealing with companies in that jurisdiction.

8. Total number of shares outstanding at time of adoption of plan liquidation - Common | Preferred.===============>>>>>>>>>>>>It is nor for your corp unless it has stock; a corporation is not a corporation without stock. When you first set up your corporation you should have mentioned initial shares issued in your corporate paperwork. Although you never issued stock certificates, stock does exist in a corporation. Review your paperwork from when you filed the corporation initially. You probably don't have any preferred shares. You own all the stock, but they just need to know how many shares you had outstanding - it's not a huge deal, but it's information that they need

Thanks :-)